OPEC kingpin Saudi Arabia will continue to ignore President Donald Trump’s tolerance threshold for rising oil prices, one analyst told CNBC on Friday, putting Riyadh on a “collision course” with Washington.
Trump delivered his second warning to OPEC this year on Thursday, demanding the producer group start pumping more oil to curtail rising crude prices.
His tweet comes at a time when OPEC and a group of allies continue to cut production following a collapse in oil prices during the final months of 2018. The output curbs by the so-called OPEC+ group have played a major part in the oil market’s rebound so far this year.
